yes it should, but it largely would depend on the viscosity of the liquid, and it would be dependent on a couple of values for the liquids, namely:
density of the cooler liquid should be less then density of the hotter (aka it should sink to form the convection current we are looking to get)
there should be a significant value for the amount of energy it takes to produce vapor for that liquid, significant, and yet enough so the atoms can still get loose in a warm liquid
the value of energy used to produce vapor should be higher then the energy needed to solidify the liquid
and once again density should be fairly high, i'd imagine, actually i dont think it matters, as long as it increases as the liquid cools, to create the desired effect
i'd imagine you would get this result with alcohols as well, but they are very similar to water... i wouldn't be the person to advise, perhaps someone more competent should do it, but i am sure this is not uncommon in other liquids
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